HSBC backs AI financial services software firm Model ML

M&A · Partnership
โดย Retail Banker International·GB·Read original
Summary · why it matters

Model ML has secured funding from HSBC Asset Management through its venture capital vehicle. The new capital is intended to aid the company's growth at a time when enterprise use of AI is moving beyond standalone models towards the broader infrastructure needed to deploy them. Model ML develops software for the financial services sector, with clients including major banks, asset management groups and advisory businesses. The platform automates work in areas such as research, due diligence, financial assessment and the preparation of client documents. HSBC Asset Management Venture Capital head Patrick Sixsmith said the investment reflects the firm's focus on backing companies at the forefront of AI and next-generation software. Model ML was launched less than two years ago and has raised more than $100m so far. HSBC Asset Management said its main VC strategy operates as a venture capital fund of funds programme within its $81bn alternatives platform.

Impact on stocks 1

Financials▲ · 1 stocks
HSBC Holdings PLC
HSBA
▲ PositiveCapitalrelevance

HSBC Asset Management invests in Model ML, supporting its VC strategy.

Theme Impact 1

Off-coverage companies 1

Model MLPrivate▲ Positive
Capitalrelevance

Model ML secures funding from HSBC to aid growth.

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